The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

Why It Is Crucial To Own The Definitions

by Smitty (h/t Lucianne) After former Federal Reserve Chairman Paul Volcker was appointed in 1979, the consumer price index surged into the double digits, causing the now revered Fed Chief to double the benchmark interest rate in order to break the back of inflation. Using the methodology in place at that time puts the CPI […]

Obama: Let Them Eat Hybrids!

Jim Lakely of the Heartland Institute points out that Obama appears to mock the questioner with 10 kids who asked about high gas prices: The president talks oil prices as if he actually knew something about either oil or economics. What Obama neglects to mention is that his administration’s own policies are a key factor in the […]

Daniel Hannan Palate Cleanser

by Smitty Even working briefly with ideas familiar to readers of this blog, Hannan remains a spot-on palate cleanser: He is also well worth your time in print. His polar opposite is the Bearded Clown, Krugman. I have rarely seen a human being so misguided, seemingly incapable of grasping that the very ideas he espouses […]

Is This the Hope or the Change?

Since Obama was inaugurated in January 2009, the number of Americans on food stamps has increased from 32 million to 44 million. Restaurants are contemplating price increases due to the sharp rise in grocery prices. And crude oil prices are near $108 per barrel, the highest since September 2008. Cue Peggy Joseph: UPDATE: “The Scary-Ass […]

Keynesianism and the Economics of Envy

We today find two Keynesian economists excoriating the Republican Party as an engine of organized greed, responsible for the suffering of the downtrodden at the expense of the evil rich. Paul Krugman accuses the GOP of embracing the policy prescriptions of Herbert Hoover’s Secretary of the Treasury, Andrew Mellon. And while Krugman notes that the […]

Housing Sales Data ‘Badly Flawed’?

What if we were in the second dip of a double-dip recession and, because of inaccurate measurements, we didn’t even know it? That’s one possible interpretation of John Schoen’s story at MSNBC: Two high-profile reports on home sales this week confirmed that the housing market is still mired in a deep slump with prices still […]

Economic Terror Plan for ‘Redistributing Wealth and Power in the Country’

Such eminences as Barbara Ehrenreich and Cornel West were featured speakers at Left Forum 2011, a conference held this past weekend at Pace University in New York City. Left Forum traces its history to a series of events first organized as the Socialist Scholars Conference and sponsored by Democratic Socialists of America. The theme of […]

Mises on ‘Christian Socialism’

“Christian Socialism, as it has taken root in the last few decades among countless followers of all Christian churches, is merely a variety of State Socialism. … Agriculture and handicraft, with perhaps small shopkeeping, are the only admissible occupations. Trade and speculation are superfluous, injurious, and evil. … It is the duty of legislation to […]

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